LijiLe
Education

my thoughts on bitcoin market cycle

BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
we will bottom around 2k before the end of Q3 2019, next market cycle btc will hit around 60-100k between 2023-2024. i will be back to bull once we hits 2k or when we close to Q3
Why would it ever go sideways? There's trillions of dollars outstanding, yet only millions of BTC. And the monetary base expansion is totally different, with USD having an undefined money supply function. These price correlations are a bit like witchcraft imo.
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vx5ma5NCCk2GPrzpZ vx5ma5NCCk2GPrzpZ
@LijiLe good luck friend
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LijiLe vx5ma5NCCk2GPrzpZ
@vx5ma5NCCk2GPrzpZ, its not going sideways, its just the return will be smaller and smaller on percentage.
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those arcs/curves are very subjective and can be drawn to fit so many different ways. very dangerous using those alone. but this is what I see...

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WayAtTheEnd WayAtTheEnd
or there's this... showing it's currently sitting on the same curve that was resistance when it broke out from the $1200 range

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WayAtTheEnd WayAtTheEnd
One more
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LijiLe WayAtTheEnd
@WayAtTheEnd, you should combine with other knowledge, like time cycle
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@LijiLe, here ya go.... right at a 2.618 as far as time goes.
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WayAtTheEnd WayAtTheEnd
@WayAtTheEnd, I also have about 5 charts on BTC all with various forms of TA, all of them suggesting to me it's a good time to be bullish.
Here's a screen from one of my latest public charts(personalized bitcoin index):


This one is really old by the key thing is that ~$3k was the bottom of wave 5 of the only Elliot waves I've ever drawn back late 2017:
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LijiLe WayAtTheEnd
@WayAtTheEnd, as i said, one of the two conditions needs to be met for market trend reversal. 1. a drop to around 1.8-2k, thats 90% drop coincide with my time cycle analysis, and the demand zone. 2. we consolidate above 3.15k until the end of Q3 (thiis conclusion can be draw by the monthly trend line for the bear market, also coincide with my time cycle analysis).
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